Goodbye penny. Hello inflation?

I agree the penny needs to go but without the 1cent piece inflation can only move in increments of 5?
Maybe its just that we dont need any MORE pennies; plenty in circulation. Also tax will need to be adjusted to only be collected such that anything less than 5 or 10 cents are not calculated.
How thats gonna work? Idk. do you?

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hippyjoe1955 · 70-79, M

With the advent of debit cards and credit cards you still get exact amounts when you use cash it gets rounded up or down. Canada has had that policy for quite a few years now and nobody even questions it. I do remember when the penny was worth something but now it is a waste of metal. I often think that the dime should be our new penny and simply move the decimal place over one.

Muthafukajones · 46-50, M

The penny was eliminated in Canada. The tax increments of say 6 and 7 percent remained the same. Cents are rounded up on bills so

1.27 become 1.30

But for credit card and bank transactions the exact amount is used.

walabby · M

@Muthafukajones In Australia 1.27 would become 1.25. 1.28 would become 1.30. I guess that Canada is just different...

walabby · M

Australia got rid of its penny (one and two cent coins) years ago. Totals are just rounded up or down. Not the slightest blip of inflation...

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jehova · 31-35, M

@Prison1203 they can with a 2\3rds majority? Definitely if unannimous.

Prison1203 · 61-69, M

@jehova it’s not often there’s a 2/3 majority

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hunkalove · 70-79, M

Do you know if you use plastic there will still be pennies? Just not in the real world.

ViciDraco · 41-45, M

Look back to the half-penny. We don't have those anymore, either.

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jehova · 31-35, M

@ViciDraco valid but still go slow inflation. we do have the nickle still. So 5% inflation would be the minimum. Maybe itd be better to simply reset the system entirely reset everything to 0 make a global (continental or hemispherical) currency the "Eurollar" of "Canmerico" maybe the "AmeriDollareso"and go from there?
Lets get loonie?!

jehova · 31-35, M

@ViciDraco and i disagree a gallon of milk was 1.95 when i was 7 years old in 1996 now its 4.99 im 35 now therefore it increased by 0 to 10 cent increments over 28 years not by exactly 10 cents every time. And definitely not by 1$ at a time.

jehova · 31-35, M

@jehova for trump it will have to be AMERICAnadic0

Roundandroundwego · 61-69

You certainly are incapable of becoming a country that provides for itself. You should chatter about pennies.

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